Read Our QCFinances Review and See the Truth
QCFinances is not to be trusted. They operate without a license and have shown us many reasons for concern. We explain everything you should watch out for in our QCFinances Review. Please, read it and uncover the true face of this scammer.
|Regulation||No regulation/Unregulated broker|
|Phone||+61 391 224 455|
Is QCFinances Legit? Regulation and Safety of Funds
The first and most important thing you want to check is a broker’s license, and we did just that.
QCFinances claims to be based in Sydney and regulated by the Securities Commission of the Bahamas. Naturally, our immediate destination was the SCB register and we can report that this broker is not in it.
Moreover, QCFinances states it is a subsidiary of ActivTrades PLC, a highly respectable broker with multiple licenses. However, this is also a lie and yet another red flag.
With everything we saw in our investigation, we can undeniably say they operate without a license and are highly risky for business therefore.
QCFinances Trading Platform Overview
QCFinances paints this picture of having a super advanced platform, but it is nothing more than a plain web trader. There are many reasons this is not good. Firstly, it does not offer great functionality and is far inferior to other recognized platforms like MT4, MT5, and cTrader.
More importantly, the broker can manipulate the software, which puts the investors in a dangerous situation. Scammers can show you that you are making money on your investment when, in reality, they ran away with it a long time ago.
The moral of the story is that you should invest only with regulated brokers. They will have legitimate software that scammers like Trubyx and Tradehall do not, and what you see will be real and not only smoke and mirrors.
Account Type Offered at QCFinances
QCFinances allegedly offers five accounts:
- Standard – $250
- Bronze – $15,000
- Silver – $45,000
- Gold – $100,000
- VIP – unlimited
The more premium the account, the higher the leverage, and it goes up to 1:500, which is a warning sign on its own. The maximum leverage under the SCB is 1:200, which makes QCFinances leverage illegal.
Regulatory bodies around the world impose leverage caps to protect traders from big losses. Thus, if your broker offers you super-high leverage, you have all the right to question their true intentions.
We also want to add that QCFinances offers bonuses with each account. This is only additional proof of their illegitimacy, as bonuses are banned under SCB law.
QCFinances Funding Method
This swindler allegedly claims it accepts Visa and MasterCard payments but be careful! They do so through a sketchy third-party payment provider GWAYZ, and that is never optimal.
The primary concern about GWAYZ is that it might cancel your ability to file a chargeback request if you transfer money through them. We don’t have to say how ALARMING this is!
The minimum deposit is $250, which is not too much, but you should not invest either way because we know they are unregulated and cannot guarantee your money will be safe. As mentioned above, QCFinances also offers bonuses, but they usually come with strings attached, so you should not consider that a benefit.
When it comes to withdrawals, this scammer does not provide any specifics. But if other scams have taught us anything, it would be that fraudulent brokers often charge unreasonably high withdrawal fees, and we would not be surprised if QCFinances did too.
How is the Fraud Orchestrated?
You might think forex scams are these elaborate schemes that are impossible to notice until it’s too late, but you would be wrong. Scammers usually pay little attention to quality and favor quantity instead. They don’t invest in a legitimate-looking website, so you can notice typos and other mistakes.
Their goal is to target as many people as they can, to increase their chances of getting large sums of money. Under the veil of a website lies a room of people working tirelessly on contacting potential victims. They mostly use social media platforms for those purposes.
We could not find any social media accounts linked to QCFinances, but we did find something more sinister.
These scammers try to convince people to install AnyDesk and TeamViewer. The mentioned applications allow you to access your PC from anywhere, and people at QCFinances want the information that enables them to do that.
Once unsuspecting investors give it to them, the scammers gain access to all your files and bank information. The worst thing about this situation is that you cannot sue them or do anything legally since people usually voluntarily provide their PC-specific details.
If we could reduce our QCFinances Review to a single sentence, it would be NOT to approach QCFinances. They have no license and stand behind so much false information. But don’t give up on trading altogether. Your perfect broker is somewhere out there, and if you need help finding them write us an email. We will consult you free of charge!
FAQs About QCFinances Broker
What Can I Trade with a QCFinances Broker?
QCFinances offers a standard range of trading instruments. Those include forex, crypto, stocks, commodities, and indices.
What are the Available Methods of Withdrawal?
The only available withdrawal method is credit/debit card transfer.
Is QCFinances Broker Regulated?
No. QCFinances is NOT regulated, and you should not do business with them in any way.